SUCCESSFUL ONLINE AUCTION! Parcels consist of 155.9± acres and 317.5± acres of nearly level to gently rolling farm ground. Landlord’s share of crops and all OWNED minerals will go to the buyer. Possession of wheat stubble and corn stalks subject to 2024 farm lease.
SEE PARCEL DESCRIPTIONS BELOW
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ONLINE BIDDING PROCEDURE: The Krause & Tuttle Farming, LLC Dryland Auction will be offered for sale in 2 parcels. BIDDING WILL BE ONLINE ONLY. Bidding will begin @ 8:00 am MT on February 13, 2024. The auction will “soft close” @ 12:00 noon, MT on February 13, 2024. Bidding remains open on all parcels as long as there is continued bidding. Bidding will close when 5 minutes have passed with no new bids. Bidders may bid on any and/or all parcels at any time before bidding closes.
To bid at the online auction:
BIDDER REQUIREMENTS: Requirements for Buyer(s) to be approved to bid online: 1.) Review and agree to the terms and conditions of the Due Diligence Packet; 2.) Provide Reck Agri Realty & Auction verification of available funds to purchase the property and/or bank loan approval letter with no contingencies; and 3.) Complete and submit the “Bidder Approval Request” form located on this property’s page at reckagri.com. Reck Agri Realty & Auction reserves the right to refuse registration to bid and/or bids from any bidder. Bidding increments are at the discretion of the Broker. Due Diligence Packet may be obtained by visiting Krause & Tuttle Farming, LLC Dryland Auction property page at reckagri.com or by calling Reck Agri Realty & Auction.
SALE TERMS/PROCEDURE: The “KRAUSE & TUTTLE FARMING, LLC DRYLAND AUCTION” with RESERVE is an online only auction and the property to be offered in two parcels. Competitive bids will determine the outcome of the auction. Seller agrees not to accept and negotiate any contracts to purchase prior to auction date. Bids will be taken for total purchase price not price per acre.
SIGNING OF PURCHASE CONTRACT: Immediately following the closing of the auction, the highest bidder(s) will sign Brokerage Disclosure and will enter into and sign a Farm, Ranch, & Land Purchase Agreement for the amount of the bid. Required earnest money deposit to be for 15% of the purchase price which is due upon the signing of the contract and to be deposited with Reck Agri Realty & Auction. Purchase contract will not be contingent upon financing. Terms and conditions of the Due Diligence Packet and announcements shall be incorporated and made a part of the contract. Sample contract is available within the Due Diligence Packet.
CLOSING: Buyer(s) shall pay in good funds, the balance of purchase price plus their respective closing costs, and sign and complete all customary or required documents at closing, which is on or before March 15, 2024. Closing to be conducted by Thalken Title Company and the closing service fee to be split 50-50 between Seller and Buyer(s).
TITLE: Seller to pass title by Warranty Deed. Title Insurance to be used as evidence of marketable title and cost of the premium to be split 50-50 between Seller and Buyer(s). Title commitments are available for review within the Due Diligence Packet and title commitment and exceptions will be incorporated and made a part of the Farm, Ranch, & Land Purchase Agreement. The Buyer(s) to receive a TBD title commitment within Due Diligence Packet, updated title commitment with Buyer(s) name, lender, purchase price, and all supplements and additions thereto after auction, and an owner’s title insurance policy in an amount equal to the Purchase Price after closing.
Property to be sold free and clear of all liens and encumbrances and subject to existing roads and highways; established easements and rights-of-way; prior mineral reservations; and other matters affected by title documents shown within the title commitment; and zoning, building, subdivision, and other restrictions and regulations of record.
POSSESSION: Possession subject to existing farm lease for the 2024 crop season.
PROPERTY CONDITION: Prospective Buyer(s) should verify all information contained herein. All prospective bidders are urged to fully inspect the property, its condition, and to rely on their own conclusions and the property is being sold AS IS-WHERE IS, without warranty, representation or recourse to Seller.
GROWING CROPS: Seller to convey to Buyer(s) landlord’s share of planted wheat and crops to be planted in land being summer fallowed.
REAL ESTATE TAXES: 2024 Real Estate Taxes due in 2025 to be paid by Buyer(s).
FSA DETERMINATION: FSA base acres and yields to pass with the Parcels as designated within Due Diligence Packet. Buyer(s) and Seller, at closing, to sign a memorandum of understanding stating the base acres and yields as designated within the Due Diligence Packet.
LEGAL DESCRIPTION: Legal descriptions are subject to existing fence/field boundaries or land-use trades, if any.
MINERALS: Seller to convey all OWNED mineral rights to Buyer(s).
NOXIOUS WEEDS: There may be areas infested by noxious weeds. The location of and the density of noxious weeds is unknown at this time.
ACREAGES: All stated acreages are approximate and are obtained from either the FSA office and/or county tax records. Both sources may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. All bids are for the total parcel without regard to exact acreage. There will be no adjustment in purchase price if acreage is different than what is stated in this brochure and/or stated at the auction.
BIDDER REQUIREMENTS: Prior to auction, Buyer(s) to review the terms and conditions as set forth in the Due Diligence Packet. Due Diligence Packet may be obtained by visiting auction property page at reckagri.com, or by calling Reck Agri Realty & Auction.
ANNOUNCEMENTS: The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Reck Agri Realty & Auction and the Seller assume no responsibility for the omissions, corrections, or withdrawals. The location maps are not intended as a survey and are for general location purposes only. Reck Agri Realty & Auction and all other agents of Broker are or will be acting as a Limited Seller’s Agent. Reck Agri Realty & Auction does not offer broker participation for the “KRAUSE & TUTTLE FARMING, LLC DRYLAND AUCTION”. Reck Agri Realty & Auction reserves the right to require bank references upon request and reserves the right to refuse bids from any bidder. Bidding increments are at the discretion of the Broker.
NOTICE TO PROSPECTIVE BUYER(S): The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. Reck Agri Realty & Auction and the Seller assumes no responsibility for the omissions, corrections, or withdrawals. The location and aerial maps are not intended as a survey and are for general location purposes only. The prospective Buyer(s) should verify all information contained herein. All prospective buyers are urged to fully inspect the property, its condition and to rely on their own conclusions. All equipment and improvements are to be sold AS IS-WHERE IS, without warranty, representation, or recourse to Seller.
